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Rea & Associates Shares Information Regarding Charitable Donations
Business
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Rea & Associates, an accounting and business consulting firm with offices in and around Zanesville, recently published an informative article for nonprofit organizations and donors, alike. According to a spokeswoman with the firm, ?LEARNING ?The Business End? OF Charitable Donations,? was published in an effort to help charities more smoothly substantiate donor contributions ? which, according to metatrader 4 review reddit ?s author, requires more than merely sending a ?many thanks? note.

Rea & Associates CPA Firm stated that, in order for donors to claim deductions on their tax returns, donors must have a written acknowledgement of these donation, particularly when certain thresholds are met. In line with the firm?s spokeswoman, these thresholds include quid pro quo donations (whenever a donor receives goods or services from a charity in trade for a contribution in excess of $75) and cash donations of $250+. Rea also mentioned that non-cash donations in excess of $500 typically require donors to perform Form 8283, with the charity completing the bottom half. Rea also indicated that non-cash donations in excess of $5,000 require official appraisal, as well as the completion of Form 8283.

Rea advised that ways of formally acknowledging a charitable donation can include (but are not limited by) emails, letters, and postcards. Rea also stated that written acknowledgement must are the name of the business, how much the donation, and a statement confirming that no goods or services were provided to the donor in exchange for the donation (if this is the case). Rea also said that written acknowledgements should be provided no later than January 31st for donations from the prior year. More info concerning charitable donation claims are available at http://www.reacpa.com/insight/will-you-claim-charitable-donations-on-this-years-tax-return/

A spokeswoman with the firm explained that the firm has been providing financial advice to Ohioans and small- to medium-sized businesses since 1933. Today Rea employs a lot more than 300 accountants and business accountants from 13 offices across the state. Reviews are for sale to the regional CPA firm at https://www.google.com/maps/place/Rea+%26+Associates+CPA/@40.1023683,-83.1479485,17z/data=!3m1!4b1!4m5!3m4!1s0x0:0xeacdd16ca708fd03!8m2!3d40.1023683!4d-83.1457598?hl=en
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